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17.12.2010 Business & Finance

SG-SSB signs agreement with France Financial Institution

By myjoyonline
SG-SSB signs agreement with France Financial Institution
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SG-SSB and Agence Francaise de Development, a French development finance institution have signed three credit facility agreements.

The agreements include a portfolio guarantee, individual guarantees to microfinance institutions and a grant to support SG-SSB in its downscaling strategy.

The three agreements are expected to help facilitate access to seed and development capital through medium and long term loans to SMEs.

A grant of 250,000 Euros has been provided to help finance the project.

Head of Societe Generale's International Division, Jean-Louis Mattei told Joy Business this will go a long way to support small businesses.

With SG-SSB taking due cognizance of the risk involved in granting loans, Jean-Louis Mattei said they will only provide loans to serious entrepreneurs.

Source; Joy Business/

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